Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 46.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,053 shares of the electric vehicle producer’s stock after selling 2,637 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Tesla were worth $604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Apexium Financial LP lifted its holdings in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after purchasing an additional 21,972 shares in the last quarter. Forum Financial Management LP lifted its holdings in Tesla by 19.7% in the 4th quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares in the last quarter. Atalanta Sosnoff Capital LLC lifted its holdings in Tesla by 3.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in Tesla by 7.4% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in Tesla in the 1st quarter valued at $1,941,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday, July 24th. Barclays reduced their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Finally, Wolfe Research initiated coverage on Tesla in a report on Thursday. They set a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $204.21.

Tesla Price Performance

TSLA stock opened at $210.73 on Friday. The business has a 50 day moving average price of $224.47 and a 200 day moving average price of $193.60. The stock has a market cap of $673.21 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 5.80 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the firm posted $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.